CYY Coventry Resources

Following the completion of the Plan of Arrangement with Chalice Gold Mines Ltd
("the Transaction"), Coventry ("the Company") (ASX:CYY)(TSX VENTURE:CYY) remains
a viable dual listed entity with adequate cash reserves to proceed. The Company
will now actively look for new exploration and development projects going
forward.


As part of the restructure of the group and reduction of management overheads we
announce the resignation of the following Company Directors: Michael Haynes;
Anthony Goddard; Eric Edwards; and Don Halliday.


The Board of Directors wishes to express their appreciation for the contribution
of these Directors who were integral to the establishment of the former assets
within Coventry Resources Inc.


Following the sale of the Company's most advanced assets to Chalice as part of
the Transaction the Company will retain one hundred percent ownership of its
Uncle Sam Project and tenements in Alaska.


The Directors appreciate the ongoing support of Shareholders and intend to
continue to work to maximise shareholder value.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


Forward-Looking Statements

This news release may contain "forward-looking statements" and/or
"forward-looking information" within the meaning of applicable securities
regulations in Canada and the United States (collectively, forward-looking
information"). Any forward-looking information contained in this news release is
made as of the date of this news release. Except as required under applicable
securities legislation, Coventry Resources Inc. ("Coventry") does not intend,
and does not assume any obligation, to update this forward-looking information.
Forward-looking information includes, but is not limited to, statements with
respect to completion of a Feasibility Study, completion of new resource
estimates, construction or operation of a mine, mineral resource estimates,
drill plans, planned work programs, future upgrading of mineral resources and
expected outcomes. Often, but not always, forward-looking information can be
identified by the use of words such as "plans", "expects, "is expected",
"budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or
"believes", or the negatives thereof or variations of such words and phrases or
statements that certain actions, events or results "may", "could", "would",
"might", or "will" be taken, occur or be achieved.


Any forward-looking information contained in this news release is based on
certain assumptions that Coventry believes are reasonable, including, with
respect to any mineral resource estimates, the key assumptions and parameters on
which such estimates are based, that the current price of and demand for gold
will be sustained or will improve, that general business and economic conditions
will not change in a material adverse manner, that financing will be available
if and when needed on reasonable terms, that supplies, equipment, personnel,
permits and local community approval required to conduct Coventry's planned
exploration and development activities will be available on reasonable terms and
that Coventry will not experience any material accident, labour dispute, or
failure of equipment. 


However, forward-looking information involves known and unknown risks,
uncertainties and other factors which may cause the actual results, performance
or achievements of Coventry to be materially different from any future results,
performance or achievements expressed or implied by the forward-looking
information. Such factors include, among others, risks and uncertainties
relating to the actual results of exploration activities being different than
anticipated, cost of labour increasing more than expected, cost of equipment or
materials increasing more than expected, fluctuations in the price of gold and
other commodities, currency fluctuations, mineral resources not being as
estimated, unexpected variations in mineral resources, grade or recovery rates,
risk of accidents, labour disputes and other risks generally associated with
mineral exploration and unanticipated delays in obtaining or failing to obtain
governmental or community approvals or financing. Although Coventry has
attempted to identify important factors that could cause actual actions, events
or results to differ materially from those described in forward-looking
information, there may be other factors that cause actions, events or results to
not be as anticipated, estimated or intended. There can be no assurance that
forward-looking information will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such statements.
Readers are cautioned not to place undue reliance on forward-looking information
due to the inherent uncertainty thereof.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Coventry Resources Inc.
Steven Chadwick
President and CEO
+61 8 9324 1266
schadwick@coventryres.com

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